This was posted 1 year 2 months 24 days ago, and might be an out-dated deal.

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$50 Cashback When You Spend $400 in The First 30 Days with StepPay (New Signups) @ Commbank

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$50 Cashback When You Spend $400 in The First 30 Days with StepPay (New Signups) @ Commbank
Go to Deal
LNeil2016 on 10/09/2023 - 20:34 commbank.com.au (1293 clicks)
Last edited 10/09/2023 - 21:32 by 1 other user

Finally managed to post my first deal. Hooray!
This deal was posted back in May but expired.
However it is active again!
Apply for Step Pay from CBA and spend $400 in 30 days. Then get $50 cash back!
https://www.commbank.com.au/banking/buy-now-pay-later/steppa…

StepPay is a digital only buy now, pay later product that can be added to your CommBank app or to the digital wallet on your smart phone, iPad or Android tablet. You can use StepPay to pay in-store, using tap and pay, or online anywhere MasterCard is accepted, up to your credit limit, without needing a physical card. We’ll automatically split your purchases of $100 or more into four equal, fortnightly repayments.

StepPay $50 cashback offer:
Available to new StepPay customers applied for and approved between 1 March 2023 and 30 September 2023 (previous end date 30 June 2023). To be eligible for the $50 cashback with StepPay, you need to spend at least $400 on purchases with your StepPay account within the first 30 days from approval date. Cashback will be credited directly to your StepPay account as ‘STEPPAY50’.

Cashback will be credited within 90 days. Cashback will clear against any outstanding instalments (including future due instalments on balances owing). Where there is no balance owing, the cashback will be paid from your StepPay account into your linked repayment account under 'StepPay refund’.

Limit of one cashback payment per customer. Offer available to new StepPay accounts, you will not be eligible if you currently hold or have held a StepPay account within the last 12 months. You will be ineligible for the cashback if your account is closed or in default at any time prior to the cashback being credited to your account. We reserve the right to close the offer prior to 30 September 2023. ​

Financial Buy Now Pay Later Cashback

Related Stores

Commonwealth Bank
Commonwealth Bank

closed Comments

    • MS Paint on 10/09/2023 - 20:55

      Single Hot Thermocouple Technique?

    • umoddbro on 10/09/2023 - 21:05
      +25

      Did you lose 90k?

    • tunzafun001 on 10/09/2023 - 21:53

      I concur…but would add an i in there.

      I actually had someone call me from CBA last week (regarding osko or similar transactions). He said CBA is a joke, using old legacy slow processes and I should find a different bank.

      Probably his last day and was going out salty, but was the first banker to actually tell the truth.

    • Cave Fire on 10/09/2023 - 22:07

      dodgy stuff every year….

    • Stivo on 11/09/2023 - 10:49

      Agree.

  • tarxan on 10/09/2023 - 20:56
    +37

    what are you doing, step pay?

    • CheKvass on 10/09/2023 - 21:04
      +12

      I am buying a washing machine.

    • KelpRunner on 11/09/2023 - 17:49

      Whatever I want since you can't pay your interest in time.

  • Neil2016 on 10/09/2023 - 21:06
    +7

    Buy $400 discounted gift card to maximise the profit/saving.

    • tharlow on 10/09/2023 - 21:31
      +8

      Profit by buying a gift card?! Tell me more…

    • tharlow on 10/09/2023 - 21:32

      It’s an elite club. I guess I won’t see you in the Chairman’s Lounge… sorry to say

  • Tuttorix on 10/09/2023 - 21:18

    Is this essentially AfterPay by CBA?

    • despavr on 10/09/2023 - 21:20

      Yes

      • Tuttorix on 10/09/2023 - 21:23
        +2

        No credit check, but i'd imagine there'd be impacts to your credit report overall though. Same with AfterPay, ZipPay etc.

        • WindBrad on 10/09/2023 - 21:28
          +7

          ZipPay does credit checks. Afterpay doesnt. So afterpay only effects your credit score if you default.

          I have no idea about this product as its too new.

        • Tleyx on 10/09/2023 - 21:33

          Can it impact if you pay?

      • Tuttorix on 10/09/2023 - 21:25
        +7

        I just looked. How do you know there's no credit checks? It says "Be confident with StepPay. This product is available to eligible CommBank customers subject to credit assessments and limits up to $2,000." which clearly indicates there is some sort of credit check.

        • Heaps for Cheaps on 10/09/2023 - 21:28
          +2

          Hmmmm, when I applied it had never done a credit check, though I guess if I take a loan or similar with CBA they would look at is as a debt.

          Though now it does state "your StepPay application does involve initial checks with credit bureaus"

        • WindBrad on 10/09/2023 - 21:30
          +4

          Yeah you are right, they mention it on the commbank website that they do a credit check, so will impact credit score.

          https://www.commbank.com.au/articles/buy-now-pay-later/how-s…

        • Tleyx on 10/09/2023 - 21:34
          +1

          Credit assessment doesnt necessarily mean credit checks

        • INFIDEL on 10/09/2023 - 22:30
          +1

          Just applied & was approved:

          Step 1
          We'll conduct a credit check to make sure StepPay is right for you

          Your Credit score is shown in Commbank app.
          Mine was same before & after applying.

          How StepPay affects your credit score
          "Like any loan or credit card you might apply for, your StepPay application does involve initial checks with credit bureaus."

  • Gordon84 on 10/09/2023 - 21:26
    +1

    Is this just for new users?

    • tharlow on 10/09/2023 - 21:33
      +3

      Existing customers continue to be milked as usual

      • GregRust on 10/09/2023 - 22:11
        +1

        I don’t like it, but I understand why companies do it.

        • tharlow on 10/09/2023 - 22:31
          +1

          Fresh meat is always the juiciest

    • SmokeyTheCorgi on 11/09/2023 - 13:55

      New users, and also previous customers who have not held it for 12 months. Pretty standard similar to credit card offers.

  • CustardShot on 10/09/2023 - 21:32
    +1

    Can anyone confirm if the $400 spend must come in purchases over $100 so that the step pay works?

    • noelhoi on 10/09/2023 - 22:46
      +1

      When I applied earlier in the year (Feb/Mar’23) i had similar offer but cant remember if it was $400. But definitely didn’t require me to spend $100+ to trigger Step Pay’s BNPL feature. I made multiple <$100 txns and it accumulated to the min requirement and got paid $50 soon after.

    • INFIDEL on 10/09/2023 - 23:23

      Only requires spend of at least $400 within 30d from StepPay account. Whatever spend at a time is OK.

      If spending <$100 at time, it is processed through StepPay account, & paid out of your linked commbank account in 1-3 business days.

      If >$100, is broken into $100 payments, paid out of your linked commbank account fortnightly.

      Seems $120 is paid as $100 in 14d. following $20 days later?

      Just added to Google Wallet & set as default card for contactless payment (for next 30d or $400 spent).
      Added $450 to linked commbank account (was $1). If insufficient funds - there's a $10 fee!

      Will likely spend $200+ on discounted Woolies Gift Cards needed in next 30d.

      • yht on 11/09/2023 - 17:21

        Does it mean that we can spend small amount of less than $100 accumulated to $400 in a month and be qualified for the cashback ? If so, it is much better than NAB offer.

        • INFIDEL on 11/09/2023 - 18:07

          As small amounts are still charged to StepPay account - seems yes.

          As long as you accumulate a spend of minimum $400 in first 30d, it qualifies.
          (Just doesn't use the $100 steps available before transferring funds from linked Commbank account.)

          That's why I added to Google Wallet & set as default, to pay small amounts as normal.
          Set reminders
          If less than $400 spent in 20+d - will buy a discounted Woolies Gift Card to do grocery shopping.

          • yht on 11/09/2023 - 18:14

            @INFIDEL: Cheers, looks like the StepPay is invite only and only applicable when we have it under Rewards ?

            • INFIDEL on 11/09/2023 - 18:15
              +1

              @yht: Need latest version of app.

              Was in my Commbank app under "For You" - so was easy to set up.

              Not a big user of Commbank.
              Have a low fee CC (free with $1000 annual spend), with under $1 in the transaction account for years.

              • yht on 11/09/2023 - 18:22

                @INFIDEL: Not for me though.

                • INFIDEL on 11/09/2023 - 21:06

                  @yht: I haven't been successful in CC applications for years. I don't meet banks criteria.

                  Was just declined for $200 back with ING CC. Been with ING almost since their Savings Maximiser started over a decade ago - with $100k.
                  Asked for a $2k limit. But.. have 2 other CC, with total $10k limit, with only $500 owing.

                  Haven't worked in years but "have an exceptional credit history" Don't meet income requirements. I mainly travel - cheap.
                  Keep costs far too low for a bank to want me as a CC customer😉

  • CuteWittleCorgi on 10/09/2023 - 22:44

    I signed up yay

  • Truck-kun on 10/09/2023 - 22:50

    Can you use it to pay off credit card bills?

    • povertytrap on 10/09/2023 - 23:00

      I see you have to apply for a CommBank account if you don’t have one and then apply for Steppay. Are there any free Comm Bank accounts? Otherwise too many hoops.

  • pwildnz on 10/09/2023 - 23:09

    Sounds groovy as baby

  • fillit on 10/09/2023 - 23:17
    +1

    Do you need a CBA transaction account or can I use a credit card like afterpay?

  • gamma on 11/09/2023 - 01:38
    +1

    Looks like it's not available to every CBA account holder.

    Sorry to say, you’re not currently eligible for StepPay
    Unfortunately, we’re unable to offer you StepPay at this time. Here are some of the most common reasons customers may not be eligible:

    You don’t meet our lending criteria or don’t have your salary regularly deposited into a CommBank Everyday account.
    Your other credit products may not be in order.
    You already have a StepPay account – check you’ve completed activation by heading to the ‘Cards’ section in your CommBank app.
    You may become eligible for StepPay in the future. If you’d like to know more, your digital banking assistant Ceba can point you in the right direction. Alternatively, call us on 13 1431.

    • abjsdhasehasee on 11/09/2023 - 09:18
      +1

      sounds like you got shit credit

    • MS Paint on 11/09/2023 - 09:21

      What's your credit score (using the CBA app credit score checker feature)?

      • borgainerz on 11/09/2023 - 10:27

        Can I do that? Do I need to provide a bunch of private information, or they already have all they need and give the result in 30secs?

        • MS Paint on 11/09/2023 - 10:40
          +1

          If you're a CBA customer you just click the credit score button and 15 seconds later you will have it. Too easy.

          • borgainerz on 11/09/2023 - 11:13

            @MS Paint: Need to allow data sharing to Experian first, no thanks.
            I'm not buying a house so don't really need that info that much. I's rather keep my data safe :p

            • MS Paint on 11/09/2023 - 11:23

              @borgainerz: I guess I must have just clicked yes the first time I used the feature. How do you expect to retrieve a credit score without sharing data?

      • nicOzBargain on 21/09/2023 - 16:06

        "Sorry to say, you’re not currently eligible for StepPay" credit score: very good. lol @ CBA

        (using the CBA app credit score checker feature)

    • payless69 on 11/09/2023 - 19:40
      -1

      CBA keeps scamming me that I was approved subject to credit test.
      Then comes back as credit score too high but denied as my skin was too dark!!
      Got to use Afterpay instead.

  • rhyme324 on 11/09/2023 - 09:27

    No International transaction fee. even better

  • Heaps for Cheaps on 11/09/2023 - 10:28

    Oh, I am late to the game with this comment…

    But I like to use this as payment method for Afterpay or PayPal Pay in 4…. It means the payment back is longer.

  • borgainerz on 11/09/2023 - 10:34

    You don't know the spending limit that they apply to the account before you register?

    So, does it mean they can allow you anywhere between $200 and $2000 credit limit?

    I want to use that to buy the Pixel 8 Pro next month (~$1400), payment will be declined if they only allowed my for $1000?

    • [Deactivated] on 11/09/2023 - 12:23
      +1

      It gives you a normal credit card number/expiry/CVV. So if the shop allows you to make two payments with different payment methods then it will work.

  • bailbondsh on 11/09/2023 - 10:50

    So I'm guessing if I buy an OLED from Target this week i'd get $50 cashback?

  • Moo Deng on 11/09/2023 - 12:39
    +1

    Do you need to open another bank account with CBA in order to apply for StepPay? Is there any monthly fee for that account if so?

    • Oztx on 19/09/2023 - 10:27
      +1

      Definitely need an account since when you activate Step Pay it asks you which account will be used to pay your Step Pay debit.

      Not sure if it has to be Smart Access account which incurs $4 per month if less than $2k is deposited.

  • Deepwhale on 11/09/2023 - 13:06

    Does anyone know how to increase the credit limit of Steppay?

  • drfuzzy on 11/09/2023 - 15:20
    +3

    High six figure income, Platinum credit card with Commbank paid off in full each month, 35 year banking history with CBA, rejected immediately by StepPay.

    • INFIDEL on 11/09/2023 - 18:26

      Am at the other end of the income spectrum….

      Haven't worked in years. (Retired in my 30's to budget travel overseas up to 9 months a year. Only COVID stopped me.)

      With Commbank for many years:
      Most basic low fee CC (FREE with $1000 annual spend) - paid off in full monthly
      Under $1 in transaction account for years.
      Unused Klarna BNPL account.

      Spend little. Never borrowed money.

      Paradoxically, "have an exceptional credit history" - shown in Commbank app.

      Accepted immediately by StepPay🎉
      Seems like fuzzy logic, drfuzzy😉

      • Heaps for Cheaps on 11/09/2023 - 19:29

        What was your spend limit?

        • INFIDEL on 11/09/2023 - 19:38
          +1

          $500 - enough to cover the $400+ spend & then be locked & forgotten.

          When $50 cashback arrives, if no outstanding payment, is transferred to linked account.

          Added $450 to linked Commbank account to cover my many small spends from Google Wallet, that will be deducted in 1-3 business days.
          *If insufficient funds - there's a $10 fee!

  • bailbondsh on 14/09/2023 - 12:08

    Wonder why I didn't get the invite????

  • pixxelpusher on 16/09/2023 - 18:50

    Any link to the transaction account they make you sign up too as a part of this deal?

  • INFIDEL on 30/09/2023 - 08:48

    Now the wait for cashback begins…
    Cashback will be credited within 90 days.
    Set reminder for end of year.

    Spent $406. Only $120 from Wallet in first 20 days, so bought $280+ discounted gift cards (to use within month) - to ensure $400 spent in first 30 days.

    Unlikely to use StepPay again. Removed as default card in Wallet. Handy extra credit if ever needed.

    • Neil2016 on 30/09/2023 - 09:22
      +1

      I got my $50 within a few days after the spending requirement met.

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